AnswersFL-2102340-Economics with Financial Literacy Teacher Directed2.3 Determining Market PriceQuestion 19
19
QuizMultiple Choice
2.3 Determining Market Price
Question 19 • FL-2102340-Economics with Financial Literacy (Teacher Directed)
The graph shows excess demand.Which explains why the price indicated by p2 on the graph is lower than the equilibrium price?
Answer
A
As prices fall, quantity demanded goes up.B
As prices fall, quantity demanded goes down.C
As prices fall, quantity demanded stays the same.D
As prices fall, quantity demanded disappears.